v3.26.1
Segment Reporting
 12 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 20 — SEGMENT REPORTING

 

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in consolidated financial statements for detailing the Company’s business segments.

 

The Company’s chief operating decision maker is the Chief Executive Officer, who reviews the financial information of each separate operating segment when making decisions about allocating resources and assessing the performance of the segment. The Company has identified the following two major reportable segments:

 

● Interior design and fit out service

 

  ● Robotics and AI Solutions Business

 

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments.

 

The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance.

 

The accounting policies of the segment are the same as those described in Note “2. Summary of Significant Accounting Policies”. The Company’s CODM uses net income (loss) to measure segment profit or loss and assesses performance against expectations to make resource allocation decisions. Additionally, the CODM reviews and uses functional expenses included in net income (loss) to manage the Company’s operations and assess operating profitability. The Company operates as two operating and reportable segments, and as such the significant segment expenses regularly provided to the CODM are those presented on the consolidated statements of operations. These significant segment expense include cost of revenues, selling and marketing expenses, research and development expenses, and general and administrative expenses. Other segment items that are presented on the consolidated statements of operations include other income (expense), net, provision for (benefit from) income taxes.

 

The Company’s assets are all located in Hong Kong and majority of the Company’s revenue and all of the expense are derived in Hong Kong. Therefore, no geographical segments are presented.

 

The following table presents revenue by major revenue type for the years ended March 31, 2026, 2025 and 2024, respectively:  

 

    For the years ended
March 31,		  
    2026     2025     2024  
Design and fit out services   $ 1,882,061     $ 2,986,769     $ 3,603,422  
Design only services     24,129       279,621       779,574  
Sale of robotic products     384,429       —       —  
Total   $ 2,290,619     $ 3,266,390     $ 4,382,996  

 

The following table presents revenue by type of premises or products for the years ended March 31, 2026, 2025 and 2024, respectively:  

 

    For the years ended
March 31,		  
    2026     2025     2024  
Non-residential   $ 1,496,427     $ 2,533,927     $ 3,651,614  
Residential     409,763       732,463       731,382  
Sale of robotic products     384,429       —       —  
Total   $ 2,290,619     $ 3,266,390     $ 4,382,996  

 

The following table presents the significant revenue and expense categories in the Company’s operating segments:  

 

    For the years ended
March 31, 2026		  
    Interior design and fit out service     Robotics and AI Solutions Business     Corporate     Total  
Revenues   $ 1,906,190     $ 384,429     $ —     $ 2,290,619  
Cost of revenues     (1,765,115 )     (275,507 )     —       (2,040,622 )
Selling and marketing expenses     (255,588 )     (50,727 )     (30,704 )     (337,019 )
Selling and marketing expenses - share-based compensation     —       —       (7,820,000 )     (7,820,000 )
Research and development expenses     —       (130,961 )     —       (130,961 )
General and administrative expenses     (1,480,722 )     (113,881 )     (692,439 )     (2,287,042 )
Other (expenses) income, net     (31,806 )     9       46,544       14,747  
Benefit from (Provision for) income taxes     4,761       (9,687 )     —       (4,926 )
Net loss   $ (1,622,280 )   $ (196,325 )   $ (8,496,599 )   $ (10,315,204 )
                                 
Segment assets     1,967,366       520,215       5,321,317       7,808,898  
Reconciliation:                                
Elimination of intersegment receivables     (10,013 )     —       (2,424,056 )     (2,434,069 )
Unallocated assets     —       —       —       —  
Total assets   $ 1,957,353     $ 520,215     $ 2,897,261     $ 5,374,829  
                                 
Segment liabilities     3,406,311       705,991       412,318       4,524,620  
Reconciliation:                                
Elimination of intersegment payables     (1,771,901 )     (649,561 )     (12,606 )     (2,434,068 )
Total liabilities   $ 1,634,410     $ 56,430     $ 399,712     $ 2,090,552  

 

    For the years ended
March 31, 2026		  
    Interior design and fit out service     Robotics and AI Solutions Business     Corporate     Total  
Other segment information                        
Depreciation and amortization   $ 243,196     $ 6,162     $ —     $ 249,358  
Provision for allowance for expected credit losses   $ 1,898     $ 1,433     $ (1,351 )   $ 1,980  
Share-based compensation   $ —     $ —     $ 7,928,000     $ 7,928,000  
Impairment losses   $ 137,593     $ —     $ —     $ 137,593  

 

    For the years ended
March 31, 2025		  
    Interior design and fit out service     Robotics and AI Solutions Business     Corporate     Total  
Revenues   $ 3,266,390     $ —     $ —     $ 3,266,390  
Cost of revenues     (2,540,218 )     —       —       (2,540,218 )
Selling and marketing expenses     (57,644 )     —       —       (57,644 )
Selling and marketing expenses - share-based compensation     —       —       —       —  
Research and development expenses     —       —       —       —  
General and administrative expenses     (1,842,665 )     —       (453,372 )     (2,296,037 )
Other (expenses) income, net     (9,504 )     —       1,277       (8,227 )
Benefit from income taxes     174,620       —       —       174,620  
Net loss   $ (1,009,021 )   $ —     $ (452,095 )   $ (1,461,116 )
                                 
Segment assets   $ 3,332,764     $ —     $ 5,782,070     $ 9,114,834  
Reconciliation:                                
Elimination of intersegment receivables     (8,805 )     —       (1,530,474 )     (1,539,279 )
Total assets   $ 3,323,959     $ —     $ 4,251,596     $ 7,575,555  
                                 
Segment liabilities     3,141,520       —       173,846       3,315,366  
Reconciliation:                                
Elimination of intersegment payables     (1,530,474 )     —       (8,805 )     (1,539,279 )
Total liabilities   $ 1,611,046     $ —     $ 165,041     $ 1,776,087  


 

    For the years ended
March 31, 2025		  
    Interior design and fit out service     Robotics and AI Solutions Business     Corporate     Total  
Other segment information                        
Depreciation and amortization   $ 63,377     $ —     $ —     $ 63,377  
Provision for allowance for expected credit losses   $ 35,354     $ —     $ —     $ 35,354  
Share-based compensation   $ —     $ —     $ —     $ —  
Impairment losses   $ —     $ —     $ —     $ —  

 

    For the years ended
March 31, 2024		  
    Interior design and fit out service     Robotics and AI Solutions Business     Corporate     Total  
Revenues   $ 4,382,996     $ —     $ —     $ 4,382,996  
Cost of revenues     (2,821,615 )     —       —       (2,821,615 )
Selling and marketing expenses     (767 )     —       —       (767 )
Selling and marketing expenses - share-based compensation     —       —       —       —  
Research and development expenses     —       —       —       —  
General and administrative expenses     (381,825 )     —       (288,000 )     (669,825 )
Other income, net     21,581       —       —       21,581  
Provision for income taxes     (128,932 )     —       —       (128,932 )
Net (loss) income   $ 1,071,438     $ —     $ (288,000 )   $ 783,438  
                                 
Segment assets   $ 1,982,253     $ —     $ 477,061     $ 2,459,314  
Reconciliation:                                
Elimination of intersegment receivables     (347,845 )     —       —       (347,845 )
Total assets   $ 1,634,408     $ —     $ 477,061     $ 2,111,469  
                                 
Segment liabilities     778,556       —       483,038       1,261,594  
Reconciliation:                                
Elimination of intersegment payables     —       —       (347,845 )     (347,845 )
Total liabilities   $ 778,556     $ —     $ 135,193     $ 913,749  

 

    For the years ended
March 31, 2024		  
    Interior design and fit out service     Robotics and AI Solutions Business     Corporate     Total  
Other segment information                        
Depreciation and amortization   $ 44,572     $ —     $ —     $ 44,572  
Provision for allowance for expected credit losses   $ 6,333     $ —     $ —     $ 6,333  
Share-based compensation   $ —     $ —     $ —     $ —  
Impairment losses   $ —     $ —     $ —     $ —